What is Bitcoin? How does it work?

Bitcoin is a digital cryptocurrency made up of processed data blocks used for online and brick-and-mortar purchases. Because Bitcoins are limited and their value is determined by market forces, Bitcoins are also traded like stocks on various exchanges. The Bitcoin concept was invented by Satoshi Nakamoto, although virtually nothing is known about him. In 2010, Nakamoto withdrew from the Bitcoin project.

Bitcoins are generated after a block of data is processed, creating a block of transactional data in the Bitcoin network. This is accomplished through a Bitcoin mining client, although this function is no longer adequately performed via a regular central processing unit (CPU). The forecasted number of produced Bitcoins is 21 million with an expected completion date of 2040.

Bitcoin chart shows you the current Bitcoin price (abbreviation: BTC) as well as the Bitcoin market trend (Bitcoin charts). The Bitcoin price is shown to you either in the Bitcoin Euro price or the Bitcoin dollar price. The price of the Bitcoin is determined from the current market price and the Bitcoin charts from the different marketplaces and stock exchanges (Bitcoin Exchange).

At the moment, you can purchase one Bitcoin starting at 799,00 Euros or 1.148,46 US dollars. As an alternative, you can also create Bitcoins yourself with a so-called Bitcoin Miner. You need an especially equipped personal computer for Bitcoin Mining, also called Bitcoin Rig. You receive a one-time small amount of Bitcoins for free on the website Bitcoin Faucet. A Bitcoin Client is required to use the digital currency, which your so-called Bitcoin wallet manages. As an alternative, you can use your account at Bitcoin.de as a Bitcoin online wallet to safely manage your Bitcoins.